Younger Americans show strong openness to Chinese electric vehicles despite tariffs, influenced by social media awareness. Europe debates raising tariffs on Chinese EVs, with German automakers opposing due to market reliance. Kia launches the EV3, a compact electric crossover with competitive range and pricing, targeting major markets. Rising repair costs lead to more vehicles being totaled, while Volkswagen delays its ID.7 EV launch in North America amid shifting EV strategies. Mercedes teases an exclusive F1-inspired sports car, and Jeep showcases the Wagoneer S outperforming Tesla Model Y in acceleration. Tesla breaks ground on a Shanghai megafactory for energy storage production.
Topics:chinese electric vehiclesus tariffseuropean ev tariffskia ev3vehicle repair costsvolkswagen ev delaysmercedes amg mythosjeep wagoneer s vs teslatesla shanghai megafactoryelectric crossover market
- Young Americans Very Open to Chinese Cars - EU Divided Over Chinese EV Tariffs - Ferrari Says EU Should Be More Pushy, Less Complacent - Kia Sees Solid Sales with EV3 - Insurance Companies Total More Vehicles - VW Delays ID.7 in North America - AMG Mythos is Stunning Roadster - Jeep Wagoneer S Out Drags Tesla Model Y - Tesla Opens Battery Factory in Shanghai
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This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
The Biden administration is putting one hundred percent tariffs on imported Chinese electric cars to protect the American auto industry, and with good reason. A survey from
the data firm Auto Pacific finds that seventy six percent of Americans under forty years old would consider buying a Chinese made car. Really, millennials and gen Zers
are especially open to it. Auto Pacific said it was surprised to find how
many young people were aware of Chinese car brands, and they say that's thanks to social media. Older Americans, especially those over sixty years old, are
overwhelmingly against buying a Chinese car, even so twenty five percent of them would still possibly consider it. Sixteen percent of respondents said they'd be more willing to
buy a Chinese brand if it was made in the US, and they're open to Chinese cars made in Mexico as well. Over seventy percent of respondents of
all ages said they'd be worried about data privacy, but that one stop them from being interested in Chinese cars. Meanwhile, Europe is grappling with how to
deal with Chinese ev imports, which now account for nineteen percent of EV sales and are growing fast. European authorities are considering putting a thirty percent tariff on
Chinese cars, up from ten percent today. Mainly they want to protect jobs,
but German automakers in particular are against the tariffs because they fear China would retaliate against European cars and the German automakers rely heavily on the Chinese market for a big chunk of their profits. Carlos Tavares, the CEO of Stilantes,
also says there's no need for the tariffs and that European automakers just have to learn how to compete. But his solution to get competitive is to simply sell
rebadged Chinese made evs from Leap Motor. So here's our autoline insight. Politics
and labor unions will probably win out in Europe. We think the EU will
put a thirty percent tariff on Chinese EV's, even knowing full well that China is going to retaliate. By the way, it's not just mass manufacturers in
Europe who are worried about Chinese evs, so is Ferrari Benedetto Vigna, the CEO of Ferrari, tells Bloomberg that this is quote a call for action for Europe. He's not calling for terriffs on Chinese cars, but says Europe needs
to be quote more pushy, less complacent. But then again, Ferrari doesn't
have too much exposure in China. Vigna says it will never account for more
than ten percent of Ferrari sales, and he's very bullish on Ferrari's first electric supercar that's going to come out at the end of next year. He says
they've come up with the right sound for the powertrain. Quote. An electric
motor is not silent, Vigna says, it can deliver emotion, and we don't sell technology, we sell emotion. The global market for compact electric crossovers
is going to be fiercely competitive because so many automakers have are about to or will offer a model to buyers. One of those about to enter the segment
is the Kiya EV three. You can see the family resemblance to its big
big brother, the EV nine, but the ruggedness has been toned down a bit. The interior is clean and modern looking, with a long thin thirty
inch screen that houses two displays. The EV three is built on a front
wheel drive version of the Hundi Group's EGMP platform and offers two battery sizes.
The standard version comes with a roughly fifty eight kilowad hour battery pack, and while Kia didn't reveal how much range it will offer, it did say the long range version with an eighty one point four kilowad hour battery will offer up to six hundred kilometers or three hundred and seventy two miles of range on the WLTP test cycle. At the moment, we're unsure if it's a four hundred
or eight hundred volt architecture and what chemistry the batteries are, But when we learned that, we'll be sure to let you know. But we can tell
you both versions of the EV three are powered by a one hundred and fifty kilowatt or two hundred and one horse power electric motor. Pricing is a afected
to be around thirty five thousand to fifty thousand dollars or roughly thirty to forty six thousand euros. Sales kickoff in Korea in July, followed by Europe in
the second half of the year than the US and other markets after that, and according to Automotive News, Kia eventually plans to sell seventy to eighty thousand in the US alone, so the EV three is a massively important vehicle to the company. More and more vehicles are being written off or totaled after an
accident, according to an opinion article in Bloomberg, and that's because it's more expensive to fix a vehicle do in part to all the new technology that's coming into cars. Repair costs have risen fifty percent since the start of the pandemic.
Triple A says advanced driver assistance systems account for thirty eight percent of repair costs on average in a Ford F one to fifty. For example, report
lacing and calibrating a side mirror with a camera is estimated to cost sixteen hundred bucks. According to CCC Intelligence Solutions, twenty one percent of vehicles were totaled
following an insurance claim in the first quarter of the year, which is close to a record, and salvage firm Copart says the figure could rise to thirty percent. Most of the vehicles being totaled are old and not worth being repaired
because it would cost more than their worth. But instead of being broken up
for scrap parts and metals, buyers and emerging markets are exporting and restoring the vehicles. Another day, another automaker is scaling back its EV plans. Nissan,
Ford, and GM have all done so recently, and now we can add Volkswagen to the list. The automaker announced that it's delaying the launch of
the ID seven electric sedan in the US and Canada. The model was supposed
to go on sale sometime this year, but now it's being delayed indefinitely.
VW didn't say why it's delaying the ID seven in North America, but we think it could be because it's a sedan, which don't sell well in this market. In addition to scaling back EV plans in North America, VW is
also doing the same in Europe. The automaker's chief financial officer says it's battery
plants in Europe may take longer to reach full capacity than it planned. VW
is still intending to start battery production next year, but due to the slowdown in EV demand, it won't ramp up as quickly as if Mercedes AMG vehicles weren't already an exclusive club. It's coming out with an extremely limited series of
cars called Mythos, and it's previewing the first of those models, the Pure Speed Concept, which is going to be the base for a production car that's limited to just two hundred and fifty examples and will only be sold to the most dedicated Mercedes Benz enthusiasts and collectors. It didn't provide a whole lot of
detail about the car, but we think it's based on the current sl and with a halo bar over the cockpit like an F one car. We wouldn't
be surprised to see an F one inspired powertrain under the skin. It's not
often that you see a sports car with no top or no windshield or windscreen, depending on which side of the pond you're from, but Pure Speed is not the only one. Several years ago, McLaren started production of the Alva
Ferrari, pulled the wraps off the Manza SP one and SP two, and Asketon Martin debuted the V twelve Speedster, and just recently at the Beijing Auto Show, feng cheng Bao, which is part of BYD, revealed the Super nine. You can easily just compare the numbers to figure out that the new
Jeep Wagoneer S will beat the Tesla Model Y performance on paper, but Jeep must think there's no fun in that. It probably also wanted to get out
in front of the dozens of YouTubers that are gonna drag race the two evs anyway, and just did it itself. Jeep produced a video with the two
going head to head and with an estimated zero to sixty time of three point four seconds. The Wagoneer S just squeaks past the Tesla which does zero to
sixty and three point five seconds. But then Jeep hints that the two separate
from each other because the Wagoneer S also offers some off road capability. The
real answer will come when the Wagoneer ES goes on sale this fall. And
speaking of Tesla, it just broke ground on its first megafactory outside of the US, located in Shanghai. The two hundred million dollar plant will produce ten
thousand commercial energy storage systems or megapacks year, and it will have a capacity of forty gigawatt hours. Full scale production is expected to start in the first
quarter of next year, and Tasla will also export the storage units mainly in the Asia Pacific region. And that brings us to the end of today's show.
But don't forget that Auto Line After Hours will be live at three pm Eastern Time today and I hope to see you there. Auto Line Daily is
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